Technoglitch
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Online takeaway delivery firm Foodpanda is acquiring the Hong Kong assets of US-based Delivery.com as it consolidates its position in key markets while shedding assets elsewhere.
Founded in 2012, Berlin-based Foodpanda expanded rapidly worldwide through nine acquisitions fuelled by $310 million in capital it raised in six tranches, as online takeaway food start-ups enjoyed a frenzy of funding.
Foodpanda, which is 49% owned by German emerging market e-commerce investor Rocket Internet, was active in up to 40 markets a year ago but has pared this back to focus on 24 markets in Asia, Eastern Europe, and the Middle East.
It split off its 10-country Africa business and last month sold its Latin American operations to UK rival Just-Eat.
Foodpanda buys Delivery.com’s HK business, consolidating territories - Livemint
